新美亚电子 2025年季度报告

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reportingcompany, or an emerging growth company. See definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company”, and“emerging growth company” in Rule12b-2 of the Exchange Act: Large Accelerated Filer[x]Accelerated filer [ ]Non-accelerated filer []Smaller reporting companyEmerging growth company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. []Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Exchange Act). INDEX Note 6. Trade Receivables Sales ProgramsNote 7. Commitments and ContingenciesNote 8. Income TaxNote 9. Stockholders’ EquityNote 10. Business SegmentNote 11. Earnings Per ShareManagement’s Discussion and Analysis of Financial Condition and Results of OperationsQuantitative and Qualitative Disclosures About Market RiskControls and ProceduresPART II. OTHER INFORMATIONLegal ProceedingsRisk FactorsUnregistered Sales of Equity Securities and Use of ProceedsOther InformationExhibitsSignatures2 principles (“GAAP”) have been omitted pursuant to those rulesor regulations. The interim condensed consolidated financialstatements are unaudited, but reflect all adjustments, consisting primarily of normal recurring adjustments that are, in the opinion of management, necessary to a fair statement of the results for the interim periods presented. These condensed consolidated financialstatements should be read in conjunction with the consolidated financial statements and notes thereto for the year ended September28, 2024 included in the Company’s Annual Report on Form10-K filed with the SEC on November 27, 2024. The condensed consolidated financial statements include all accounts of the Company, its wholly owned subsidiaries andsubsidiaries in which the Company has a controlling financial interest. All intra-company accounts and transactions have beeneliminated. Noncontrolling interest represents a noncontrolling investor’s interest in the results of operations of subsidiaries that theCompany controls and consolidates. other interim periods or for the full fiscal year. Reclassification which were previously included within accrued liabilities, to be a separate line item on the condensed consolidated balance sheets.Similarly, a separate line for the change in those amounts is presented on the condensed consolidated statements of cash flows. Certain Recently Issued Accounting Pronouncements Not Yet Adopted In November 2024, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) disclosure of certain costs and expenses within the notes to the financial statements. The disclosure requirements are effective for theCompany for annual reporting periods beginning in fiscal 2028 and for interim periods beginning in fiscal 2029, with early adoptionpermitted, and will be applied prospectively, with the option to apply retrospectively. The Company is currently evaluating the impact which will require the Company, on an annual basis, to provide disclosure of specific categories in its effective income tax ratereconciliation, as well as disclosure of income taxes paid disaggregated by jurisdiction. ASU 2023-09 is effective for the Company in fiscal 2026, with early adoption permitted. The Company is currently evaluating the impact ASU 2023-09 will have on its financialstatement disclosures. Note2.Revenue Recognition The Company has determined that revenue for the majority of its contracts is required to be recognized on an over time basis.This is primarily due to the fact that the Company does not have an alternative use for the end products it manufactures for itscustomers and has an enforceable right to payment, including a reasonable profit, for work-in-progress and finished goods upon acustomer’s cancellation of a contract for convenience. In certain circumstances, the Company recognizes revenue over time becauseits customer simultaneously receives and consumes the benefits provided by the Company’s services or the Company’s customer revenue is recognized on an over time basis using the cost-to-cost method (ratio of costs incurred to date to total estimated costs atcompletion) which the Company believes best depicts the transfer of control to the customer. Revenue streams for which revenue isrecognized on an over time basis include sales of integrated manufacturing solutions; components; logistics and repair services;design, development and engineering services; and defense and aerospace programs. At least95% of the Company’s revenue is there is no work-in-progress or finished goods inventory associated with contracts since revenue is recognized on an over time b